Universal Technical Institute Stock Price, News & Analysis

Universal Technical Institute (UTI) has announced that four of its campuses have been recognized as 2019-2020 "Schools of Excellence" by the Accrediting Commission of Career Schools and Colleges (ACCSC). This prestigious award highlights UTI's commitment to providing quality education. Additionally, UTI's new campus in Bloomfield, New Jersey, received a "School of Distinction" award. UTI continues to demonstrate its dedication to student success, with four out of five graduates finding work in their fields despite the challenges posed by the pandemic.

Universal Technical Institute (NYSE: UTI) announced its participation in the Canaccord Genuity 40th Annual Growth Conference scheduled for August 13, 2020, at 2:00 p.m. ET. CEO Jerome A. Grant and CFO Troy R. Anderson will present the company's insights. A webcast will be available on the UTI investor relations website, and an audio recording will be archived for a week post-event. UTI, with over 220,000 graduates in 55 years, is a leader in technical training for various automotive and diesel fields, offering programs across 12 campuses nationwide.

Universal Technical Institute (NYSE: UTI) reported a challenging third quarter for fiscal 2020, with revenues decreasing by 31.1% to $54.5 million compared to last year. Despite an 8.4% increase in new student starts to 1,824, the company faced a $13.3 million net loss, a significant drop from $0.4 million last year. Total enrollment stands at over 10,800 students, with 9,900 active. Financial support from the CARES Act has totaled approximately $33 million, aiding student retention efforts. UTI maintains strong liquidity with $91.5 million available as of June 30, 2020.

Universal Technical Institute (NYSE: UTI) announced the addition of Bart Fesperman as senior vice president-chief commercial officer and Sonia Mason as senior vice president-chief human resources officer. These appointments aim to enhance growth initiatives and improve student outcomes. Fesperman, with over 20 years in marketing, will lead marketing and student recruitment, while Mason, an HR expert, will manage talent acquisition and performance. CEO Jerome Grant emphasized the importance of strong leadership to drive the company's future.

Universal Technical Institute (NYSE: UTI) announced on July 14, 2020, that it will provide laptops to approximately 14,000 students using CARES Act Higher Education Emergency Relief Funds. This initiative aims to support the transition to a blended learning model amid the COVID-19 pandemic, which combines online and hands-on training. The program is designed for students starting by September 28, 2020, and those currently enrolled. UTI's strategy aligns with the demand for skilled technicians in fields like transportation and manufacturing as the economy recovers.

On July 19, Team Penske's No. 2 Würth USA/UTI Ford Mustang will honor 225 recent graduates from Universal Technical Institute (UTI) by displaying their names on the car during the NASCAR Cup Series race at Texas Motor Speedway. This event recognizes graduates who missed traditional ceremonies due to the COVID-19 pandemic. UTI's CEO, Jerome Grant, emphasized the continued demand for skilled technicians crucial for the economy's recovery. The names will also be shown on 'Big Hoss TV,' the largest video screen in the world.

Universal Technical Institute (UTI) provides a business update amid economic challenges due to COVID-19. The company plans to report Q3 fiscal 2020 results in August. As of now, 12 out of 13 campuses are operational for in-person labs, and the Bloomfield, NJ campus resumes labs on July 1, 2020. New student inquiries are increasing, and over 500 students have graduated since resuming labs. UTI has distributed $11 million in grants to around 7,600 students impacted by the pandemic. The company's focus remains on adapting education to market needs.

Universal Technical Institute (NYSE: UTI) highlights the vital role of its skilled graduates during the COVID-19 pandemic. These technicians maintain essential vehicles and machinery, supporting critical industries such as healthcare and agriculture. UTI graduates, like Brandon Rubio and Dylan Bansi, are essential workers ensuring the supply chain remains operational. The company emphasizes its commitment to training technicians who contribute significantly to economic recovery and infrastructure maintenance, as stated by CEO Jerome Grant.